Observer Money

Staff Writer Koryx Copper Inc has reported encouraging assay results from nine drill holes totalling 4 007 metres at the Haib Copper Project in the south of the country. The drilling forms part of the company’s 2025 Phase 2 and 3 exploration programmes at the wholly owned project. Haib is an advanced open-pit porphyry copper-molybdenum-gold project. It is expected to produce copper concentrate through conventional crushing, milling and flotation, with potential additional output from heap leaching. Koryx Copper president and chief executive officer Heye Daun said, “The latest drill results reinforce the strong fundamentals of the Haib Copper Project. We…

Staff Writer South Africa's state-owned logistics company, Transnet, has reported improved financial and operational performance for the six months ended September 30, 2025, supported by higher volumes across its rail, port, and pipeline operations. Revenue for the interim period rose by 8.8% to N$45.2 billion, from N$41.5 billion in the same period last year. Earnings before interest, taxes, depreciation, and amortisation increased by 15.4% to N$15.7 billion. The loss for the period narrowed to N$1.8 billion from N$2.2 billion in 2024, a 17.7% year-on-year improvement. Transnet said the improved results were driven by higher volumes across the business. Rail volumes…

Chamwe Kaira Mobile Telecommunications Company (MTC) plans to expand its operations locally and enter regional markets.  Its managing director, Licky Erastus, said the company has spent the past year engaging neighbouring countries that need its services. He said MTC plans to set up a data centre and has invested heavily in its fibre backbone.  “We have a natural technology licence; we try to understand what the needs of customers are,” he said. MTC, Namibia’s first and largest mobile telecommunications operator, has grown into a communications service provider and aims to fully transform into a digital service provider. The company’s profit…

Chamwe Kaira Grindrod Limited, the JSE-listed freight and logistics company that recently opened a new warehouse at the Port of Walvis Bay, reported a steady performance for the 11 months ending 30 November 2025. The company achieved this despite operating in a turbulent commodities market. The company said global mining commodity markets remained under pressure during the period due to shifting supply and demand, rising geopolitical uncertainty and seasonal patterns.  Prices for Grindrod’s dry-bulk commodities fell 12% compared to last year, but demand for key products such as iron ore and chrome remained firm. The new Walvis Bay warehouse is…

Staff Writer  The African Development Bank’s (AfDB) board of directors has approved a US$10 million (approximately N$200 billion) loan to Hyphen Hydrogen Energy to support its green ammonia project, which is valued at more than US$10 billion.  The project aims to position Namibia as a leader in the global green hydrogen industry. The loan comes from the Sustainable Energy Fund for Africa (SEFA) and will fund front-end engineering design studies.  These studies cover solar and wind generation, battery energy storage, electrolyser capacity, and desalination infrastructure.  The support aims to reduce project risks and attract the large-scale financing needed for full…

Staff Writer  The International Air Transport Association has released its 2026 outlook for Africa as part of the global industry forecast. It said the continent is expected to outpace global traffic growth next year but still faces some of the toughest operating conditions worldwide. IATA forecasts global air travel growth of 4.9% in 2026, down from the 5.2% expected in 2025.  Africa is projected to surpass the global average with 6% growth in 2026. Cargo demand worldwide is expected to rise 2.6%, with Africa slightly lower at 2%. Despite stronger demand, profitability remains weak. Of the US$41 billion in global…

Staff Writer  Curro Holdings Limited has issued an update on the proposed acquisition of the company by Jannie Mouton Stigting, following earlier announcements and the shareholder circular released on 2 October 2025. The circular stated that, once specific conditions are met or waived, the Offeror plans to acquire all issued Curro shares through a scheme of arrangement, which would result in Curro being delisted from the Johannesburg Stock Exchange (JSE). In its latest update on 9 December 2025, Curro said the parties are waiting for confirmation of the dates for the Tribunal’s approval process. The company said it will provide…

Staff Writer  Anglo American’s long-anticipated merger with Teck Resources moved closer to completion after shareholders overwhelmingly approved key resolutions at a general meeting on 9 December 2025.  The vote gives strong backing to the formation of Anglo Teck, which is set to become one of the most influential companies in the global critical minerals sector. Anglo American has a significant presence in Namibia through its 50/50 partnership with the government in De Beers, operating Namdeb on land and Debmarine offshore, as well as the Namibian Diamond Trading Company. Both resolutions needed to implement the merger of equals passed with large…

Staff Writer The International Air Transport Association (IATA) says governments are blocking US$1.2 billion in airline funds from repatriation as of the end of October.  The figure shows a small improvement of US$100 million since April, but 93% of the trapped funds remain in Africa and the Middle East. IATA has urged governments to remove all restrictions on currency repatriation and allow airlines access to their revenues in US dollars. These revenues come from ticket sales, cargo sales and other activities and are protected under bilateral air service agreements and treaty commitments. Restrictions affecting airlines include delays in approval, inconsistent…

STAFF WRITER The Industrial Development Corporation of South Africa (IDC) has taken another step in its drive to finance industrial growth after receiving approval from the Johannesburg Stock Exchange (JSE) Limited to list a new financial instrument under its Domestic Medium Term Note Programme. The listing signals investor confidence in IDC and supports the organisation’s continued focus on development funding. The programme has an authorised size of N$50 billion, with more than N$36 billion already issued. The IDC’s latest note, designated IDC01, carries a nominal value of N$500 million. It was issued at par and structured as a floating-rate note.…